SUSTAINABLE ENERGY

Best Options for Sustainable Energy Utilization

Best Options for Sustainable Energy Utilization

Introduction

Herzog et al (n.d) comments that the usual and the most commonly used sources of energy, such as coal, oil and natural gas, have effectively contributed to the economic progress of all countries, but due to their excessive use and consumption, they have greatly caused damage to both the environment and to the human health. In addition, fossil fuel resourced energy sources are also facing great strain in terms of their stored volume being depleted at an increasing rate. The rapid pace of technological advancement and the increasing global population have tremendously contributed to the growing energy consumption and energy demands. This has put forth the pertinent question in front of the world, of how to fulfil energy needs once these natural sources diminish. It is to address the main essence of such question, that the concept and utilization of renewable or alternate energy sources cropped up. These renewable sources of energy use the natural elements of the earth, such as sun light, air and water and other environmental friendly by-products, such as biomass, to produce energy.

Hence, the potential of renewable energy sources is limitless and is capable to meet and fulfil the growing global demand for energy, efficiently. This has prompted many businesses and governments to consider switching and implementing policies and measures to introduce renewable energy projects in their countries, and make a positive contribution in reducing pollution that is causing harm to the environment. Herzog et al (n.d) further ads that even now, the financial markets around the world are prospecting the benefits of switching to renewable energy sources; moreover, there have been also a rise amongst the public to use responsibly and eco-friendly goods and services, and now even eco-friendly homes and commercial buildings are too being built. Presently, renewable energy sources provides up to fifteen to twenty percent of total demand for world's energy, with nearly twenty percent of global electricity supply coming from hydropower source itself.

Therefore, this paper aims to address the key subject of assessing the potential benefits and loss to a potential investor of a commercial development project that is reflective of sustainable energy use and development. The commercial development project chosen is 'The Gherkin'.

Discussion

The Gherkin

Formally known as the 30 St. Mary Axe, Gherkin is the second tallest building in the London city, standing at a robust one hundred and eighty meters, and is also one of the top six tallest building in the whole of London. Officially, inaugurated in 2004, the plaza along with its Arcadian Garden is open to the public for their leisure (www.30stmaryaxe.com).

Built under the JCT contract, the project was planned and commissioned by Swiss Re group to replace the Baltic Exchange, which had faced irreparable damage in 1992 due to IRA bomb explosion. This incident allowed the designers and architects to consider building a new project on the land that would be recognized as a landmark of the London ...